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# System prepended metadata

title: KnownOrigin Governance Token Brain Dump

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# KnownOrigin Governance Token Brain Dump
 
### Mission Statement
Led by **passion**
Driven by **community**
Bonded by **belief**
Guided by **tech**
United by **art**

### Vision

- Community owned (?), curated and run art marketplace
    - Skin in the Game
- People are rewarded and incentivised for being part of the community, creating and collecting
    - Careful thought on incentive alignment needed
- Creators and collectors get to invest and get a stake in KO for helping it grow 
    - Acts as a defensible community moat if NFT art market places ever races to the bottom on fees
- Full community ownership over time via phased progress
    - Legal aspects need to be explored in more depth

### What does it mean to be part of the KO community/governance board/DAO?

- Get to have a say in the future direction of KO
- Distributing power among our members (Artists, Collectors & partners)
- Curation by the collective 
    - Using the pwoer of data analysis and the community to provide a unbiased, tranparent but opinioned stream of curated content ... ?
- Receive rewards for engagement
- Possibly receiving a share of future revenue
- Ability to submit Art, tech, curation proposals during the ‘Proposal window’
- Ability to vote on proposals during the ‘Voting round’
- Ability to invite other artists or stake reputation for others to join the collective

### Initial Token ($INK) distribution models

- Data points which could be used
    - 15000 nfts issued
        - Also time data between things could signal creator engagement from creators?
    - 1500 unique holders of token on Etherscan
    - 5k editions
        - Time series between creations could signal greater engagement?
    - 350+ onboarded artists
    - 1500 signed up user's with a basic profile
    - 10k+ likes made
    - Thousands of artists management transactions i.e. giftings, price changes, mints etc 
        - showing historical engagement maybe?
    - Community discourse
    - Trending engine can be used here ...?

- Ever action the platform could invoke a reward/penelty of some kind?
    - purchases, creations, tweets etc
    - Hard to not incentives wash trading and bad vibes
        - Dont use value transfer and only use action?

- KO V1 (alpha) 
    - Only 110 NFTs issued but is very old members 
        - most not active now - so would you do some sort of claim window?

- Community competitions such as DAOsaka
    - Participating in hashtag callouts
    - Being included in guest editor picks?
    
- Coming to community calls
    - Creating onboarding docs and helping out in general in the community
    - Turning partipiation into some form of commons ... ?

### Token holder rights

What do you get if you are part of the KO DAO?

- Governance and voting sights in how the KO platform is developed
    - Feature requests, product directions and decisions
    - Verification and curation of artists that are allowed to make art
    - Quadratic voting 
    - Artist approval process
    - Partnerships and collabs with other partners
        
- Moderator tokens ?
- Staking/buring $INK to promote artworks
    - Advertising schemes to benefit collective
    
- Staking/burning of tokens to give benefits like access to GSN (Gas Station Network)
        
- Possible platform configuration options
    - Primary sales %
    - Secondary sale %
    - Minting period e.g. 24hrs
    - File size limits 
        - needs techincal thought and discussion
    - Minimum pricing - currently 0.04

### Token Value flow/cycle

#### Creation

- Artwork purchases
- Creations
    - Gifts and promo encouragement
- Fulfillment of bounties
    - DAO fullfilled
- Community management/engagement/promo
    - Can we programtically capture this data easily?
- Buying into the core DAO in some scenarios?

#### Spend

- Curation
- GSN relayer access
- Reduced fees
- Funding of bounties
- Fees withdrawals i.e. taking funds from the pot?
- Tipping/patronage over time (cent style model?)
- Feature access e.g. auction modes, file types, file sizes
- Voting (some votes could burn vs just signal)

### Tokenonmics

**Needs more thought**

* Total Supply - 
* Initial Distrubtion - 
* Estimated weekly/monthly/yearly distribution 
* Token allocation estimates i.e. who owns what with what power?
* Voting limits/configurations

### Rollout plan

**Needs more thought**

#### Phased rollout thoughts/timeline

1. Token airdrop based on metrics = **$INK**
    1. Metrics to be decided - **could be done on xDAI/rinkeby to save gas?**
2. Weekly token distribution from this week activities
    1. **$INK** reconciliation process to collectors, minters, community etc
3. Curation of frontpage using tokens - (token appetite test = TAT)
    1. Weekly voting rounds - e.g. burn votes to get on front page
4. Platform feature voting - (TAT)
    1. staked voting rounds for what to work on next (not burned)
    2. ink.knownorigin.io to be created  
        1. dashboard / tools and stats on $INK
5. Bounties available- (TAT)
    1. Paid in $INK
    2. Push **docs.knownorigin.io** forward via community
    3. Video guides, graphics and tutorials
6. Discord setup - community managed (TAT)
    1. rewarded in $KO?
        TAT steps 3, 4, 5 & 6 (or combo of them) are to see if tokens are wanted and desired by the community before pushing forward with utilising more from them
7. $INK community discourse starts
    1. polling and ideas solidification of what a DAO may look like
    2. confirmation of what the DAO will do
    3. understand how/where to build the DAO and what it needs to do
8. $INK creation and applications process start
    1. The birth of a simple DAO
    2. build out features of the DAO
    3. Funds distribution to DAO members/ $INK holders
9. DAOICO launch
    1. Investable profit seeking, community run DAO

### Implementation

#### DAO Platform options

- Aragon 
    - Looks feature full
- Colony 
- DAOHous
    - Solid team, we know them which is a big win 
- Could look at POA/xDAI as options for this?

#### Funds Distribution Token ERC2222

* ethereum/EIPs#2222

This is full ERC20 compliant. We can mint and burn supply. We could mint 15 million to mirror the 15% revenue we get on primary sales.

We then say we are going to distribute x million based on the revenue we want to share right now. When sales happen the ETH is sent to this contract and all holders of tokens (inc. KO who would hold the majority) can pull their respective fees at any point. Tokens are fully transferable and respect common laws such as you get the fees due to you if you held the tokens when ETH was sent to the funds pool.

This means even the smallest token holders are instantly earning ETH (even if dust); but may incentivise them to get more $KO (more more fees now and in the future).

#### Gnosis Safe 

Could be used for specific tasks, treasure management etc

Option to build SafeApp for DAo tasks?

### Other stuff

##### Token Name Ideas (the important stuff)

* $KOD 👎 
* $KODAC - KODA-Community 👎 
* $KOKO 👎  
* $KOIN👎
* $KOLA👎
* `$INC`=> `$INK` (sounds like ink and inclusive) **WINNER**
* $KREATE (we are all about creating…)👎
* $KR8👎
* $OKKO👎
* $OK (KO backwards obvs.)👎
* $KOINC👎
* $KINC👎


### Feedback 

